Oil & Gas

China National Offshore Oil Corporation (CNOOC) has reported a significant gas discovery in the South China Sea, as revealed in a press release obtained by the Washington-based Specialized Energy Platform. Described by Senoc as a "major exploratory breakthrough," the discovery occurred in a shallow, gas-rich area within the deep waters of the South China Sea. Despite this achievement, CNOOC acknowledges the challenges inherent in resource exploration and development in such areas, emphasizing the need for accelerated utilization of natural gas in deep-water environments.

The newly uncovered gas reservoir, known as the Lingshui 36-1 gas field, is situated at an average water depth of approximately 1,500 meters. Xu Shangwei, CNOOC's executive vice president of exploration, remarked on the formidable engineering and technical obstacles encountered during exploration in these shallow gas regions within deep-sea environments. Nevertheless, the successful testing of the Lingshui 36-1 field represents a significant breakthrough in exploration efforts in such challenging terrains.

The main gas-bearing formation in this latest discovery is identified as the Quaternary Lidong Formation, with an average depth of 210 meters. Testing has revealed the potential for the Lingshui 36-1 field to produce over 10 million cubic meters per day of natural gas. CNOOC's CEO and President, Zhu Xinhai, underscored the strategic importance of the South China Sea for the company's efforts to bolster natural gas reserves and production. Xinhai emphasized that the successful testing of the Lingshui 36-1 field expands the resource base, contributing to the development of a significant gas area in the South China Sea.

In addition to the recent gas discovery, CNOOC has made notable strides in its exploration and production endeavors both domestically and internationally. The company has commenced operations at the Puchong 19-6 natural gas and condensate field in the Bohai Sea and has announced major oil discoveries in the Bohai Sea and the eastern South China Sea. Furthermore, CNOOC's activities extend beyond China, with the company securing oil exploration and production contracts in Mozambique, signaling its commitment to expanding its presence and operations on the global stage.